He is like the Energizer Bunny, “still buying”.
Sears (SHLD) Chairman Eddie Lampert purchases an additional 700,000 share of the auto retailer AutoNation (AN) Friday bringing his owner ship to just under 70 million shares (68.96 million) or 38.6% of the total outstanding.
Lampert began aggressively adding to his stake in December of 2007 and on several occasions has added million share blocks on almost a weekly basis through his hedge funds.
Disclosure (“none” means no position):Long SHLD, none
2 replies on “Groundhog Day: Lampert Buys AutoNation (AN) Shares”
Interesting that investors dont see the value in Autonation. The cash flow – the mix of new and used cars – and related businesses – and then Lampert buying up all the stock at low prices. Vehicles are going to be part of the us economy and unlike houses – they are consumable products – they decrease in value and usefulness and become worthless forcing us to buy again – houses do not often become worthless. Jim Anders
Lampert is going to take Autonation private at $20 or $22 for remaining stock. I predict before year end. He will have the votes. And be positioned when the economy picks up next year to take a company for $20 which is really worth $30 to $35. He might even merge into Sear/KMart.
This is so obvious and such an opportunity .